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best forex brokers accepting mpesa in botswana review

8 Best Forex Brokers that Accept M-Pesa in Botswana

The 8 Best Forex Brokers Accepting M-PESA in Botswana revealed. We tested the best forex brokers that accept M-PESA for Botswanan Traders.

This is a complete guide to forex brokers accepting M-PESA in Botswana.

In this in-depth guide you’ll learn:

  • What is M-PESA?
  • Which forex traders offer the best trading platforms for Botswanan traders?
  • Which brokers accepting M-PESA are best for beginner traders? 
  • Which brokers offer a sign-up bonus for first-time traders in Botswana? 
  • Which brokers offer a low minimum deposit of $5 (67 BWP) to start trading? 
  • Which trading platforms offer a mobile app on IOS and Android for Botswana Traders? 


And lots more…

So if you’re ready to go “all in” with the best-tested forex brokers accepting M-PESA

Let’s dive right in…

Updated : December 8, 2023

Best Forex Brokers that Accept M-Pesa in Botswana

🏅 Forex Broker👉 Open Account✔️ Accepting M-PESA? 💰 Minimum Deposit? 💸 Botswana Shilling (BWP) Deposits Allowed?
1. Exness👉 Open AccountYes$10 / 134 BWPYes
2. Pepperstone👉 Open AccountYes$0 / 0 BWPNo
3. HFM👉 Open AccountYes$0 / 0 BWPNo
4. CM Markets👉 Open AccountYes$100 / 1 342 BWPNo
5. FXTM👉 Open AccountYes$10 / 134 BWPNo
6. XM👉 Open AccountYesUSD 5 / 67 BWPNo
7. SuperForex👉 Open Account
YesUSD 1 / 13 BWPNo
8. LiteFinance👉 Open AccountYesUSD 50 / 669 BWPNo

10 Best Forex Brokers in Botswana for 2024

Rank

Broker

Review

Regulators

Min Deposit

Official Site

#1

4.4/5

User Score

#2

4.7/5

User Score

#3

4.5/5

User Score

#4

tickmill

4.4/5

User Score

#5

4.7/5

User Score

#6

4.6/5

User Score

#7

4.7/5

User Score

#8

avatrade

4.8/5

User Score

#9

4.8/5

User Score

#10

4.7/5

User Score

What is M-Pesa, and How Does it Work?

M-Pesa is an electronic mobile money service that enables you to send, receive, and keep funds on your mobile phone. With an M-Pesa account, it is possible to transfer funds and purchase goods and services.

Additionally, you can withdraw cash by visiting an agent (usually a corner store) or transfer it to others using your mobile device. This makes handling money and making payments fast, secure, and easy.

 

➡️ M-Pesa is one of the creative instruments developed in East Africa via a partnership between the telecoms and banking industries.

➡️ It was introduced in Kenya and is now used in ten countries, including South Africa, Botswana, Nigeria, India, Romania, and others.

➡️ Financial services and products, such as M-Pesa, are now inexpensively accessible because of advancements in the financial sector’s technology.

➡️ M-Pesa enables unbanked individuals to pay for and receive products and services using a mobile phone rather than a traditional bank.

 

M-Pesa is a virtual banking system (mobile money service) that provides transaction services through SIM cards on mobile phones.

The SIM card is placed into the mobile device’s card slot. Users will receive and save funds, make payments, and send money to retailers and family members through SMS.

 

It is especially beneficial for people who lack bank accounts and reside in distant rural regions. This is because they have access to the various M-Pesa locations around the nation.

Money that must be saved is provided to the kiosk attendant, who transfers it digitally to the customer’s M-Pesa account, which resides on their mobile phone.

8 Best Forex Brokers that Accept M-Pesa in Botswana

  1. ✔️ Exness – Overall, Top Regulated Broker in Botswana
  2. ✔️ Pepperstone – MPesa Accepting Forex Broker with Raw Spreads
  3. ✔️ HFM – Low cost forex broker that accepts MPesa
  4. CM Trading – User-Friendly Forex Broker for Beginner Traders
  5. FXTM– Top MetaTrader 4 Platform/MT4 in Botswana
  6. XM – Zero Commission MPesa accepting Broker
  7. SuperForex – Simple Trading Process for Beginner Traders
  8. LiteFinance – Best Forex Broker Accepting M-PESA in Botswana

1. Exness

Exness Review Main Banner

 

Overview

Exness has been operating since 2008 and is governed by several Tier-1 and Tier-2 Regulators. As a result, Exness offers variable spreads dependent on the account type, with typical spreads from 0.0 pips on major instruments such as EUR/USD.

Exness enables trading on MT5 and MT4 platforms as an exclusive MetaTrader broker. As with numerous other brokers, trade executions are almost quick, and there are no fees for withdrawals and deposits.

Exness is a well-known worldwide broker that offers nine distinct trading accounts, including one of the industry’s cheapest Cent Accounts. In addition, Exness has licenses from a variety of regulatory bodies throughout the globe.

 

Overall Rating

Min Deposit

$10 / 134 BWP

Regulators

CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA

Trading Desk

MetaTrader 4 and MetaTrader 5

Crypto

Yes

Total Pairs

107

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Second, it offers negative balance protection for all customers, meaning traders cannot lose more than their original investment. Lastly, it is routinely audited by Deloitte, one of the most recognized auditing organizations in the world.

Botswanans will be delighted by the variety of deposit and withdrawal options offered by Exness. Additionally, deposits and withdrawals are rapid and fee-free, making funding your account (and withdrawing funds) far less expensive and simpler than with many other brokers.

Per Anti-Money Laundering standards, Exness prohibits deposits and withdrawals to/from third-party accounts, and any non-profit monies are returned to the source of deposit.

 

Features

FeatureInformation
📈 Account Base CurrenciesAED, ARS, AUD, AZN, BDT, BHD, BND, BRL, CAD, CHF, CNY, EGP, EUR, GBP, GHS, HKD, HUF, IDR, INR, JOD, JPY, KES, KRW, KWD, KZT, MAD, MXN, MYR, NGN, NZD, OMR, PHP, PKR, QAR, SAR, SGD, THB, UAH, UGX, USD, UZS, VND, XOF, ZAR
📊 Minimum Spread0.0 pips EUR/USD

💳 Botswanan Deposits/WithdrawalsYes

⚖️ CBN RegulationNo
📊 Account TypesStandard Account, Standard Cent Account, Raw Spread Account, Zero Account, Pro Account
⚖️ RegulationFSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA
📈 LeverageUnlimited
📊 Micro Account Offered?No
📈 Trading ToolsAnalytical tools, Trading calculators, currency converter, tick history, economic calendar
💻 Educational MaterialNone

👥 Botswanan-Based Customer SupportNo

 

Exness

 

Pros and Cons

✔️ Pros❌ Cons
The broker has a global presence and has authorization and regulation with market regulators around the globeThere is a limited selection of tradable instruments and only a few asset classes
Offers instant withdrawals and depositsThere are only a few funding options offered
Botswanan traders have a choice between several dynamic account types
Client fund safety is guaranteed and there is investor protection offered
Offers 24/7 customer support that is both prompt and helpful
There are tight and variable spreads offered with competitive commissions

 

2. Pepperstone

Pepperstone Review Main Banner

 

Overview

Pepperstone was established in 2010 in Australia and is famous worldwide for its low trading prices and various trading platforms.

Pepperstone is one of the leading trading brokers in the world, offering traders access to trade across all markets through user-friendly platforms powered by innovative technology, low fees, low latency, high-speed execution, and exemplary customer support.

 

Pepperstone has a reputation for treating its customers honestly and possesses licenses from several of the world’s finest regulators.

 

Overall Rating

Min Deposit

0 USD / 0 BWP

Regulators

ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB

Trading Desk

MetaTrader 4, MetaTrader 5, cTrader and TradeView

Crypto

Yes (Not available in Africa)

Total Pairs

60+

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

It also offers negative balance protection for all customers, meaning traders cannot lose more than their original investment.

Pepperstone normally does not impose fees for deposits or withdrawals. However, it lacks openness on financing mechanisms and associated fees. And Botswanan merchants will be dismayed by the fact that all BWP deposits and withdrawals incur conversion costs.

As a broker that adheres to all Anti-Money Laundering standards and regulations, Pepperstone returns all non-profit withdrawals to the original deposit source.

 

Features

Account FeatureValue
💰 Minimum Deposit$0 / 0 BWP
💻 Minimum Trading Size0.01 lots
📈 Maximum Trading Size100 lots in a single trade
💵 Base Account CurrencyAUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, and HKD
✅ Trading Strategies SupportedAll including scalping, hedging, and Expert Advisors (EAs)
🗞 News Trading Offered?Yes
➡️ Trade ExecutionNo-Dealing Desk (NDD)
📊 Average EUR/USD SpreadFrom 0.6 pips
💸 CommissionsNone
🔃 Rollover SwapsYes, according to the market rates
⬆️ Maximum Leverage per region• Australia – 1:30
• Bahamas – 1:200
• Cyprus – 1:30
• Dubai – 1:30
• Germany – 1:30
• Botswana – 1:400
• United Kingdom – 1:30
❌ Negative Balance Protection OfferedYes, only for retail clients
✅ Margin Close-Out (%)50%
🔨 Trading Instruments offered1,200+
💻 Trading Platforms offeredMetaTrader 4, MetaTrader 5, cTrader, TradingView, Myfxbook, DupliTrade

 

Pepperstone

 

Pros and Cons

✔️ Pros❌ Cons
Pepperstone offers competitive spreads that start from 0.0 pips on EUR/USDThere are restrictions on the countries that may use Pepperstone’s Islamic account
Pepperstone is well-regulated and offers an extremely secure trading environment with transparent trading feesThere is no BWP-denominated account offered, subjecting Botswanans to currency conversion fees
Investor protection is offered to EU clients through the FSCSThere are additional administrative fees applied to the Islamic account
Pepperstone offers a choice between some of the best trading platforms
Negative balance protection is offered for clients in certain regions
There is an Islamic account offered to Muslim traders
There is a demo account offered by Pepperstone
There are several trading tools offered

 

3. HFM

HFM Review

 

Overview

HFM is a low-risk CFD and forex broker for Botswana traders with a trust score of 83% and an overall rating of 9/10 in terms of trading conditions, retail investor accounts, client fund security, and customer support.

 

Overall Rating

Min Deposit

USD 0

Regulators

CySEC, FCA, DFSA, FSCA, FSA, CMA

Trading Desk

MT4, MT5, HFM APP

Crypto

Yes

Total Pairs

50+

Islamic Account

Yes

Trading Fees

0

Account Activation Time

24 Hours

 

HFM is well-regulated by several reputable entities and recently, HFM Investments Limited, a subsidiary of the brokerage company, has been given a license by the Capital Markets Authority (CMA) in Botswana.

HFM is a proud MetaTrader broker, offering both MetaTrader 4 and MetaTrader 5 trading platforms. HFM’s retail investor accounts are suitable for both novice and expert traders, as well as professional traders looking to get a competitive advantage in their trading.

 

Features

FeaturesInformation
⚖️ RegulationFSCA, CySEC, DFSA, FSA, FCA, CMA, and FSC, with registration in ACPR, BaFin, MNB, CONSOB, CNMV, FI, FMA, FSC, and other regions
💸 Minimum Withdrawal Time
📈 Maximum Withdrawal Time2 to 4 working days
💰 Instant Deposits/Withdrawals?Yes, deposits
💳 BWP-Denominated Account?No
📱 Minimum Deposit Amount$0 / 0 BWP

 

HFM

 

Pros and Cons

✔️ Pros❌ Cons
HFM is well-regulated and features registrations from several countries worldwide, which adds to its reputation and trustworthinessHFM’s spreads are wide on entry-level accounts
HFM’s overall reputation and reach are unparalleledHFM does not support a large array of deposit and withdrawal options
The HFM brand has won over 60 accolades in its field throughout the yearsBotswanans pay currency conversion fee as there is no BWP-denominated trading account
HFM’s demo accounts for MT4 and MT5 are unrestricted
Botswanan Muslim traders who prefer Islamic accounts can make the switch at any time
Botswanans can choose an account that suits their trading strategy and experience level the best
Traders have access to a plethora of learning materials and innovative trading platforms
The versatility of the trading platforms means that more people in Botswana can make use of them, even if they do not have previous trading experience
Botswanans pay an extremely low minimum deposit of 65 BWP, and the market circumstances are favourable for trading

 

4. CM Trading

CM Trading-review

 

Overview

A South African online broker, CM Trading gives you access to numerous foreign exchange (Forex) pairings. You can obtain instant and simple access to the market from your computer, web browser, or mobile device.

 

Overall Rating

Min Deposit

USD100

Regulators

FSA

Trading Desk

Metatrader 4

Crypto

Yes

Total Pairs

154

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

There is a wide variety of deposit and withdrawal options available on CM Trading; nevertheless, withdrawal timeframes are lengthy, and fees are steep. Furthermore, Botswanans would be dissatisfied to learn that CM Trading’s costs for BWP-based currency conversions are not disclosed.

Traders can deposit monies in EUR and USD using the CM Trading client interface. Clients that use currencies other than the US dollar, such as the Botswanan Pula, will have their margin calculated according to the exchange rate set by CM Trading.

 

Features

Account FeatureValue
💳 Minimum Deposit$100 / 1 342 BWP
📊 Demo AccountYes
📈 Educational materialsYes, Trading eBook, Webinars
✴️ Market ReviewsYes
📈 Spreads fromRegular spreads
🔎 Live Trading SignalsNo
📊 Risk-Free Trades offeredNo
🎓 Personal Assistant offered?No
📈 Trading Central Trading SignalsNo
👨‍💼 Trading Central Live Trading SignalsNo
🚀 Cashback RebatesNo
🔎 Access to ECN?No
📊 Market News and Analysis For Fundamental AnalysisNo
📈 Special OffersNo
Dedicated Trading RoomNo
📊 Trading specialist offering investment adviceNo

 

CM Trading

 

Pros and Cons

✔️ Pros❌ Cons
Well-regulated broker with a wide variety of financial instruments offeredAn inactivity fee may apply to dormant accounts
Client capital is kept in segregated accounts with top tier-1 banks.Both deposit fees and withdrawal fees are charged
Offers a wide range of trading tools that can be usedCompetitive spreads, but not the lowest in the industry when compared to competitors
Supports several trading strategies including algorithmic trading, scalping, hedging, and more.
There is a comprehensive proprietary trader platform offered along with third-party apps and platforms
CM Trading accommodates the Botswanan market
Reasonable minimum deposit requirements for account tiers
CM Trading has a good reputation and a long-standing history as a CFD and forex provider

 

5. FXTM

FXTM review

 

Overview

FXTM can be summarized as a credible and trusted broker that is very competitive in terms of its trading fees (against major currency pairs) and offer daily trading webinars. Their spread is also very low and is considered a low-risk trading environment. FXTM is considered safe as it is regulated by the FCA.

 

Overall Rating

Min Deposit

USD 10 

Regulators

CySec, FSCA 

Trading Desk

MetaTrader 4 and MetaTrader 5

Crypto

Yes

Total Pairs

60

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

 

FXTM offers a Micro account, Advantage account, Advantage Plus account standard account, Cent Account, Shares Account, ECN, ECN Zero Account, and FXTM Pro Account.

 

Features

FeatureInformation
⚖️ RegulationCySEC, FSCA, FCA, FSC Mauritius
⚖️ CBN Regulation?No
📊 Trading AccountsMicro Account, Advantage Account, Advantage Plus Account
📊 Trading PlatformMetaTrader 4, MetaTrader 5, FXTM Trader
💰 Minimum Deposit 134 Botswanan Pula equivalent to $10
💰 Trading AssetsPrecious Metals, Stock Trading, Stock CFDs, Indices, Forex Indices, Forex Currency Pairs (including minor, major, and exotic pairs), Commodities, Stock Baskets
🔎 Botswanan Pula-based Account?Yes
💳 BWP Deposits Allowed?Yes
💰 Bonuses for Botswanan traders?Yes
📈 Minimum spread0.0 pips EUR/USD
📊 Demo AccountYes
☪️ Islamic AccountYes
✴️ Social Trading OfferedYes

 

FXTM

 

Pros and Cons

✔️ Pros ❌ Cons
FXTM is a multi-regulated and a reputable broker that has gained a high level of trustworthinessInactivity fees apply when the retail investor account becomes dormant
Dedicated customer support offered for Botswanan traders
Several deposit options and withdrawal methods offered
There is a low minimum deposit requirement
Commission-free trading is offered
Deposit fees are not charged on any payment methods
Withdrawal processing times are quick
There are several educational tools offered
There is an exclusive risk management tool offered

 

6. XM

XM-review Main Banner

 

Overview

XM is considered low-risk, with an overall Trust Score of 90 out of 100. The broker is licensed by one Tier-1 Regulator (high trust), three Tier-2 Regulators (average trust), and one Tier-3 Regulator (low trust). They offers four different retail trading accounts: a Micro Account, Standard Account, XM Ultra-Low Account, and a Shares Account.

 

Overall Rating

Min Deposit

USD 5 / 67 BWP

Regulators

IFSC, CySec, ASIC

Trading Desk

Desktop MT4 and MT5, Mobile MT4 and MT5, XM mobile app, Web platform

Total Pairs

57

Islamic Account

Yes

Trading Fees

No (Just spread)

Account Activation Time

24 Hours

 

Botswana’s retail investors choose four different account kinds, each tailored to the investor’s unique trading goals. Users may pick from a variety of live account options

 

Features

FeatureInformation
⚖️ RegulationFSCA, IFSC
⚖️ CBN RegulationNo
✔️ Accepts Botswanan Traders?Yes
💳 Minimum deposit (BWP)$5 / 67 BWP
Average spread from0.0 pips EUR/USD
📈 Maximum Leverage1:1000
👥 Customer Support 24/5

 

XM

 

Pros and Cons

✔️ Pros❌ Cons
Negative balance protection is applied to retail investor accountsUS clients are restricted from accessing XM’s trading services
There are several secure payment methods to choose fromThere are no fixed spread accounts offered
The broker is known for low spreads, low commissions, and reliable trade execution speedsThere is an inactivity fee applied to dormant accounts
Traders can use hedging, scalping, and expert advisor trading strategies
The broker offers personal customer service to its clients

7. SuperForex

SuperForex review

 

Overview

SuperForex is a dependable broker that fulfils all its clients’ trading needs in every way possible. Thanks to the availability of hundreds of various assets and the simplicity of the trading process, there is a platform and set of trading instruments accessible that can fulfil the demands of each type of trader.

 

Overall Rating

Min Deposit

USD 1 / 13 BWP

Regulators

IFSC

Trading Desk

Meta Trader 4

Crypto

Yes

Total Pairs

300

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Traders who open an account with SuperForex may select from various account types, giving them the flexibility to choose the one that best meets their requirements in terms of the experience required, the amount of cash to spend, and the trading style they want.

The broker can satisfy customers from various countries with various payment requirements by offering a comprehensive selection of effective, speedy, and straightforward payment solutions.

 

Features

FeaturesInformation
⚖️ RegulationNone that could be verified
💸 Minimum Withdrawal TimeInstant
📈 Maximum Withdrawal Time2 to 4 working days
💰 Instant Deposits/Withdrawals?Yes, deposits
💳 BWP-Denominated Account?No
📱 Minimum Deposit Amount13 BWP ($1)

 

SuperForex  M-PESA

 

Pros and Cons

✔️ Pros❌ Cons
At SuperForex, eleven retail accounts are offered, all of which are tailored to the unique needs of individual traders.SuperForex is not regulated.
In addition to speedy, trustworthy transaction execution and cheap spreads, SuperForex has commission-free options.There is no other platform other than SuperForex and MT4.
Muslims have access to Islamic trading accounts with no monthly maintenance fees.SuperForex does not offer a BWP-denominated account.
Botswanans can quickly and easily deposit and withdraw monies from their accounts.

 

8. LiteFinance

LiteFinance review

 

Overview

LiteFinance is a forex and CFD broker in operation since 2005. The trading conditions at LiteFinance include narrow spreads, social trading, and excellent execution speeds using its ECN network, which helps to guarantee low requotes.

LiteFinance is a licensed broker that provides its customers with easy internet market access. You can buy and sell numerous CFD products on the solid MetaTrader platforms, which are renowned for being easy, robust, smart, and suited for traders of all experience levels.

 

Overall Rating

Min Deposit

USD 50 / 669 BWP

Regulators

CySEC

Trading Desk

MetaTrader 4, MetaTrader 5, Web-based

Crypto

Yes

Total Pairs

40

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

LiteFinance has two live account choices with modest minimum deposits of 50 USD each, making them accessible to novice traders.

In addition, the ECN Account offers narrow spreads (beginning at 0 pips on the EUR/USD) in exchange for a charge ranging from $10 to $30 per traded lot.

In contrast to the ECN account, the Classic Account is commission-free. However, spreads begin at 1.9 pips on the EUR/USD, larger than comparable brokers. In addition, you may pick from a range of account financing alternatives to make payments quickly and easily.

 

Features

FeatureInformation
⚖️ RegulationCySEC
⚖️ CBN Regulation?No
📊 Trading Accounts2
📊 Trading PlatformMetaTrader 4, MetaTrader 5, LiteFinance Mobile Trading App
💰 Minimum Deposit 680 Botswanan Pula equivalent to $50
💰 Trading AssetsForex, Precious Metals, Oil, Global Stock Indexes, CFD NYSE, CFD NASDAQ, CFD EURONEXT, CFD LONDON LSE, CFD XETRA, Cryptocurrencies
🔎 Botswanan Pula-based Account?No
💳 BWP Deposits Allowed?Yes
💰 Bonuses for Botswanan traders?Yes
📈 Minimum spread0.0 pips EUR/USD
📊 Demo AccountYes
☪️ Islamic AccountYes
✴️ Social Trading OfferedYes

 

LiteFinance M-PESA

 

Pros and Cons

✔️ Pros❌ Cons
LiteFinance offers competitive trading conditions across both account typesLiteFinance is only regulated by one Tier-2 regulator
There is a decent and flexible selection of deposit and withdrawal optionsThe commission fees are expensive
Multilingual customer support is offeredThere is a limited choice between trading accounts
There are educational materials offered to beginner tradersCurrency conversion fees and inactivity fees apply
There is a demo account and an option for Islamic Accounts
LiteFinance provides expert market analysis through Claws & Horns
LiteFinance provides a social trading platform along with several strategy providers
There is a broad selection of financial instruments that can be traded

 

How to Choose the Right Forex Broker in Botswana

Forex Broker in Botswana

 

Botswanan traders must evaluate the following components of a forex broker to decide whether the broker is suited to their unique trading objectives or needs.

 

Regulations and Licenses

This is the first vital component that Botswanan traders must thoroughly evaluate. Reputable brokers are regulated by market regulators such as FCA, ASIC, CySEC, FSCA, and others.

Botswanans must beware when dealing with brokers with only offshore regulations such as FSA, SVG BVI, FSC, and others.

 

Account Features

Account Features include leverage trading and margin requirement, commissions and spreads, initial deposit, additional features on retail investor accounts, and so on.

 

Deposits and Withdrawals

Botswanans must evaluate the payment options available, the processing times on withdrawal requests, deposit currencies offered, the withdrawal fee, deposit fees, and minimum withdrawal limits, among other trading and non-trading fees.

 

Range of Markets

The range of markets offered refers to the number and range of tradable instruments the broker offers. Therefore, Botswanans must consider what they wish to trade and what is available.

 

Customer Support

Customer Support is another crucial factor. Botswanans must check the availability of support (trading hours), the quality of support, and the promptness with which the customer support team responds to queries.

 

Trading Platform

A trading platform is the Botswanan trader’s portal to the financial markets. Therefore, traders must ensure that the trading platform has the necessary technical indicators, fundamental analysis, technical analysis, economic calendar, charting, newsfeed, and other tools they may need.

 

Education and Research

Education and Research come in handy to both novice traders and experienced investors. Education includes some of the following:

➡️ eBooks

➡️ Trading guides

➡️ Trading knowledge on leveraged products

➡️ A risk warning on complex instruments

➡️ Educational videos

 

Research can include some of the following:

➡️ Trading tools

➡️ Commentary

➡️ Status of International Markets

➡️ Price movements

➡️ Market sentiments

➡️ Whether there is a volatile market

➡️ Exchange Rates

➡️ Expert opinions and other resources can help experienced traders make informed trading decisions.

The Best Forex Brokers in Botswana

In this article, we have listed the best brokers that offer forex trading to traders in Botswana. In addition, we have further identified the brokers that offer additional services and solutions to Botswanan traders.

 

Best MetaTrader 4 / MT4 Forex Broker in Botswana

Overall Rating

Min Deposit

USD 25

Regulators

FCA UK

Trading Platform

MT5, MT4, OctaTrader

Crypto

Yes

Total Pairs

28

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overall, OctaFX is the best MT4 forex broker in Botswana. OctaFX is an MT4 and MT5 broker that provides Botswanans with various markets. OctaFX offers a choice of accounts via MT4, including ECN and STP accounts, with superior trade execution.

 

Best MetaTrader 5 / MT5 Forex Broker in Botswana

Overall Rating

Min Deposit

$100 / 1 342 BWP

Regulators

ASIC, FSA

Trading Desk

MetaTrader 4, MetaTrader 5, Ava Social, Ava Protect, Trading Central

Crypto

Yes

Total Pairs

55+

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overall, AvaTrade is the best MetaTrader 5 forex broker in Botswana. In addition, AvaTrade is regarded as one of the most secure MT5 forex brokers.

No commission is charged for trading currency pairings, only leaving the spread to be paid. A demo account is also available for traders to sharpen their abilities via MT5 and several other platforms.

 

Best Forex Broker for beginners in Botswana

Overall Rating

Min Deposit

$100

Regulators

CFT, NFA

Trading Desk

MetaTrader 4

Crypto

Yes

Total Pairs

50

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

 

Overall, FOREX.com is the best forex broker for beginners in Botswana. FOREX.com is a broker renowned for low trading fees and beginner-friendly solutions. In addition, FOREX.com offers several educational materials and a helpful demo account.

 

Best Low Minimum Deposit Forex Broker in Botswana

Overall Rating

Min Deposit

$10 / 134 BWP

Regulators

CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA

Trading Desk

MetaTrader 4 and MetaTrader 5

Crypto

Yes

Total Pairs

107

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overall, Exness is the best Low Minimum Deposit Forex Broker in Botswana. Exness has a minimum deposit requirement of 10 USD / 130 BWP, making it easy for Botswanans to start trading 278 instruments.

Exness also offers MT4 and MT5 through which trades can be made. In addition, it offers some of the best trading tools, charting capabilities, technical indicators, expert advisors, and more.

 

Best ECN Forex Broker in Botswana

Overall Rating

Min Deposit

USD 0

Regulators

CySEC, FCA, DFSA, FSCA, FSA, CMA

Trading Desk

MT4, MT5, HFM APP

Crypto

Yes

Total Pairs

50+

Islamic Account

Yes

Trading Fees

0

Account Activation Time

24 Hours

 

Overall, HFM is the best ECN forex broker in Botswana. HFM is a hybrid forex and CFD broker that uses STP and ECN technology to ensure that Botswanans get the best pricing, minimal slippage, no requotes, and the fastest trade execution.

HFM uses the best liquidity providers who aggregate the pricing that Botswanans can see on MT4, MT5, and the HF App for Android and iOS.

 

Best Islamic / Swap-Free Forex Broker in Botswana

Overall Rating

Min Deposit

USD 10 / 136 BWP

Regulators

CySec, FCA 

Trading Desk

None

Crypto

Yes

Total Pairs

47

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overall, eToro is the best Islamic / Swap-Free forex broker in Botswana. eToro is a renowned social trading platform that offers Muslim traders an Islamic Account.

eToro does not charge any interest on positions held for over 24 hours. However, registering an Islamic Account can be expensive initially, requiring a 1,000 USD / 13,400 BWP deposit.

 

Best Forex Trading App in Botswana

Overall Rating

Min Deposit

 USD 0 / 0 BWP 

Regulators

ASIC

Trading Desk

MetaTrader 4

Crypto

Yes

Total Pairs

300

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overall, CMC Markets is the best forex trading app in Botswana. In addition, CMC Markets offers a user-friendly mobile app with research tools, powerful charts, customizable watch lists, news reports, and a range of educational materials.

 

Best Lowest Spread Forex Broker in Botswana

Overall Rating

Min Deposit

USD 0 / 0 BWP

Regulators

FCA, CySEC, IFSC, KNF

Trading Desk

No Trading Desk

Crypto

Yes

Total Pairs

48

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overall, XTB is the best lowest-spread forex broker in Botswana. XTB is a well-known forex and CFD broker with low and competitive forex spreads from 0.1 pips depending on the financial instrument and the market conditions.

XTB is also a good broker in terms of educational materials and research capabilities, providing traders with comprehensive market analysis across markets.

 

Best Nasdaq 100 Forex Broker in Botswana

Overall Rating

Min Deposit

USD 10 

Regulators

CySec, FSCA 

Trading Desk

MetaTrader 4 and MetaTrader 5

Crypto

Yes

Total Pairs

60

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

 

Overall, FXTM is the best Nasdaq 100 forex broker in Botswana. FXTM is a multi-regulated forex and CFD broker that accommodates Botswanan traders with a keen interest in Nasdaq. Traders can expect low and competitive spreads, a choice between accounts, and powerful trading platforms.

 

Best Volatility 75 / VIX 75 Forex Broker in Botswana

Overall Rating

Min Deposit

USD 0 / 0 BWP

Regulators

IGRs

 

Trading Desk

MetaTrader 4

Crypto

Yes

Total Pairs

80

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overall, IG is Botswana’s best Volatility 75 / VIX 75 forex broker. IG is one of the best CFD brokers with powerful proprietary trading technology.

IG is well-regulated and offers Botswanans access to VIX75, with spreads from 0.04 pips / 0.13% and zero commission charges.

 

Best NDD Forex Broker in Botswana

Overall Rating

Min Deposit

USD 50 / 672 BWP

Regulators

FCA

Trading Desk

MetaTrader 4

Crypto

Yes

Total Pairs

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overall, FXCM is the best NDD forex broker in Botswana. FXCM is a No-Dealing Desk broker with STP and ECN execution across several markets.

In addition, FXCM offers a choice between third-party platforms in addition to technical indicators, charting tools, and competitive trading conditions.

 

Best STP Forex Broker in Botswana

Overall Rating

Min Deposit

USD 10

Regulators

IFSC

Trading Desk

Meta Trader 4

Crypto

Yes

Total Pairs

36

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

on RoboForex’s website

 

Overall, RoboForex is the best STP forex broker in Botswana. RoboForex is popular forex and CFD broker with competitive trading conditions. RoboForex offers STP execution with liquidity sourced from top providers.

Botswanans can expect access to over 12,000 instruments via powerful and innovative third-party platforms.

 

Best Sign-up Bonus Broker in Botswana

Overall Rating

Min Deposit

 50 USD / 682 BWP 

Regulators

CYSEC

Trading Desk

MetaTrader 4

Crypto

Yes

Total Pairs

50

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

 

Overall, Windsor Brokers is the best sign-up bonus broker in Botswana. Windsor Brokers is a well-regulated broker that offers Botswanans a welcome account funded with 30 USD in trading credit. With this account, Botswanans can explore the platform or risk-free test their strategies.

Conclusion

M-Pesa is a Kenya-based worldwide mobile banking service that enables users to store and transfer funds through the network. However, because M-Pesa does not cover a substantial fraction of Forex traders, few Forex brokers are interested in forming relationships with the firm.

However, despite this, there are a few options for Botswanan traders who want to use this affordable, trusted payment method.

Frequently Asked Questions

Does M-Pesa work in Botswana?

M-Pesa works in several countries worldwide, including Botswana.

 

Is M-Pesa safe?

M-Pesa provides a secure, quick, low-cost method of paying, receiving, transferring, and storing money. M-Pesa operates in real-time and digitally, making it quicker, cheaper, and safer than other informal money transfer services since each transaction is encrypted and signed with a PIN.

 

Can I use M-Pesa as a payment method with my broker?

Several reputable forex brokers have begun to accept M-Pesa deposits and withdrawals from traders in developing countries.

 

How does M-Pesa make money?

Revenue is derived from transaction fees collected by Safaricom through the agent during cash withdrawal and transfer activities.

 

Do I need a bank account in Botswanan to use M-Pesa?

A bank account is not required since M-Pesa is meant to assist people without access to financial services.

 

Which forex traders offer the best trading platforms for Botswanan traders?

  • Exness
  • Pepperstone
  • HFM

 

Which brokers accepting M-PESA are best for beginner traders?

  • Pepperstone
  • XM
  • Exness

 

Which brokers offer a sign-up bonus for first-time traders in Botswana? 

  • XM
  • FXTM
  • SuperForex

 

Which brokers offer a low minimum deposit of $5 (67 BWP) to start trading? 

  • XM

 

Which trading platforms offer a mobile app on IOS and Android for Botswana Traders? 

  • Exness
  • Pepperstone
  • HFM
  • FXTM

 

Addendum/Disclosure:

No matter how diligently we strive to maintain accuracy, the forex market is a volatile environment that may change at any time, even if the information supplied is correct at the time of going live.

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